The Traderszone Network

Published in TZ Latest News 17 March, 2015 by The TZ Newswire Staff

Russia’s Alfa Telecom bids $2.8 billion to double stake in Turkcell

Russia’s Alfa Telecom offered $2.8 billion on Tuesday to buy back a 13.76 percent stake of Turkcell (TCELL.IS), a deal that would double its holding in Turkey’s top mobile operator after a seven-year battle for control of the company. Alfa Telecom said in a statement it had offered $54.9 million per share for 51 of Turkcell’s class-B shares, which are being held with Turkey’s state-run Ziraat Bank [TCZIR.UL] as collateral for a loan. Alfa has been locked in a battle with one of Turkcell’s founder’s, Mehmet Emin Karamehmet, for control of the mobile operator.